Schneider Electric is currently probing its potential involvement with the Clop cybercriminal group, known for exploiting vulnerabilities in the MOVEit file transfer software. The group’s modus operandi includes coercive tactics such as posting victims’ names on the darkweb to pressure organizations into paying extortion fees. Over 100 organizations, including major entities like Siemens Energy and Cognizant, have been implicated in Clop’s cyberattack campaign, raising concerns about the widespread impact of the vulnerability exploitation.
The investigation follows a series of cybersecurity incidents triggered by vulnerabilities in Progress’ MOVEit tool, particularly the CVE-2023-34362 flaw, which Clop has exploited to escalate administrative privileges and gain unauthorized access. Notable victims of the cyberattacks include Shell, PricewaterhouseCoopers, Johns Hopkins University and Health System, British Airways, and the BBC, highlighting the severity and reach of the exploitation.
Schneider Electric’s security team is actively working to verify claims of a cyberattack relative to MOVEit vulnerabilities. The company, a major player in technology segments like power management and industrial automation, has been recognized for its excellence in the CRN Partner Program Guide. As the investigation unfolds, concerns persist regarding the potential impact on Schneider Electric and other affected organizations, underscoring the urgency of addressing vulnerabilities and enhancing cybersecurity measures.
